Hal_Al
Level 15

Deductions & credits

@AmeliesUncle 

No citation.  I'm going by the cost basis, in a gift, being the giver's  basis; which I believe includes the giver's holding period, and depreciation previously  taken by the giver.

 

Are you saying that  that holding period only applies to capital gains and may not constitute a period of non qualified use for the new owner, for the home sale  exclusion?  There may be "related party" rules that govern.